The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M COMPANY COMMON 88579Y101 10,285 46,850 SH   SOLE   29,400 0 17,450
ALPHABET INC CLASS A 02079K305 26,210 25,271 SH   SOLE   16,168 0 9,103
AMERICAN EXPRESS CO COMMON 025816109 18,050 193,500 SH   SOLE   124,500 0 69,000
APACHE CORP COMMON 037411105 9,735 253,000 SH   SOLE   139,800 0 113,200
BANCO BRADESCO S A ADR (1 PFD) 059460303 248,078 20,882,002 SH   SOLE   15,868,196 0 5,013,806
BECTON DICKINSON COMMON 075887109 11,474 52,950 SH   SOLE   30,200 0 22,750
BERKSHIRE HATHAWAY CLASS B 084670702 31,602 158,424 SH   SOLE   86,760 0 71,664
BUCKLE INC COMMON 118440106 11,257 508,200 SH   SOLE   337,200 0 171,000
CARLISLE COS INC COMMON 142339100 19,848 190,100 SH   SOLE   126,200 0 63,900
CARNIVAL CORP COMMON 143658300 12,811 195,342 SH   SOLE   124,042 0 71,300
CARS.COM INC COMMON STOCK 14575E105 4,085 144,193 SH   SOLE   81,393 0 62,800
COCA-COLA CO COMMON 191216100 4,625 106,500 SH   SOLE   53,700 0 52,800
COPA HOLDINGS CLASS A P31076105 66,316 515,557 SH   SOLE   386,657 0 128,900
CULLEN FROST BANKERS COMMON 229899109 16,908 159,400 SH   SOLE   105,000 0 54,400
DENBURY RES INC COMMON 247916208 10,130 3,697,200 SH   SOLE   2,020,700 0 1,676,500
DENTSPLY SIRONA INC COM USD0.01 24906P109 5,448 108,289 SH   SOLE   58,189 0 50,100
EAGLE MATERIALS COMMON 26969P108 11,583 112,400 SH   SOLE   72,300 0 40,100
EMERSON ELEC CO COMMON 291011104 5,109 74,800 SH   SOLE   30,300 0 44,500
FLIR SYS INC COMMON 302445101 14,878 297,500 SH   SOLE   183,000 0 114,500
GENERAL DYNAMICS COMMON 369550108 3,834 17,355 SH   SOLE   9,355 0 8,000
GENTEX CORP COMMON 371901109 25,686 1,115,800 SH   SOLE   778,000 0 337,800
HARLEY DAVIDSON INC COMMON 412822108 3,876 90,400 SH   SOLE   66,600 0 23,800
HEARTLAND EXPRESS IN COMMON 422347104 1,821 101,200 SH   SOLE   0 0 101,200
INFOSYS LIMITED ADR 456788108 135,447 7,588,080 SH   SOLE   5,738,880 0 1,849,200
INTEL CORP COMMON 458140100 24,959 479,240 SH   SOLE   315,640 0 163,600
JACOBS ENGR GROUP COMMON 469814107 15,358 259,639 SH   SOLE   168,139 0 91,500
JOHNSON & JOHNSON COMMON 478160104 23,105 180,300 SH   SOLE   117,100 0 63,200
MARKEL CORP COMMON 570535104 53,571 45,777 SH   SOLE   27,964 0 17,813
MDU RES GROUP INC COMMON 552690109 13,855 492,000 SH   SOLE   290,400 0 201,600
MEDTRONIC PLC SHS G5960L103 11,144 138,922 SH   SOLE   90,880 0 48,042
MERCK & CO INC COMMON 58933Y105 2,789 51,200 SH   SOLE   33,100 0 18,100
MICROSOFT CORP COMMON 594918104 7,541 82,621 SH   SOLE   49,900 0 32,721
MSC INDL DIRECT INC CLASS A 553530106 9,354 102,000 SH   SOLE   67,100 0 34,900
OCEANEERING INTL INC COMMON 675232102 15,794 851,900 SH   SOLE   561,000 0 290,900
POSCO ADR (0.25 ORD) 693483109 233,244 2,958,066 SH   SOLE   2,254,366 0 703,700
PROCTER & GAMBLE CO COMMON 742718109 15,539 196,000 SH   SOLE   123,100 0 72,900
QUALCOMM INC COMMON 747525103 16,579 299,200 SH   SOLE   197,800 0 101,400
ROCKWELL COLLINS INC COMMON 774341101 7,161 53,100 SH   SOLE   33,700 0 19,400
SAMSUNG ELECTRS LTD GDR 144A (0.5 ORD) 796050888 255,316 221,975 SH   SOLE   167,746 0 54,229
SCHLUMBERGER LTD COMMON 806857108 24,007 370,600 SH   SOLE   241,600 0 129,000
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203 22,462 581,910 SH   SOLE   327,090 0 254,820
T ROWE PRICE GRP COMMON 74144T108 22,069 204,400 SH   SOLE   134,300 0 70,100
TEGNA INC COMMON 87901J105 8,287 727,580 SH   SOLE   479,280 0 248,300
TELEDYNE TECH INC COMMON 879360105 8,161 43,600 SH   SOLE   30,500 0 13,100
TIFFANY & CO COMMON 886547108 11,338 116,100 SH   SOLE   77,400 0 38,700
UNITED TECHNOLOGIES COMMON 913017109 29,253 232,500 SH   SOLE   157,400 0 75,100
VALLEY NATL BANCORP COMMON 919794107 9,116 731,600 SH   SOLE   373,600 0 358,000
VALMONT INDS INC COMMON 920253101 9,334 63,800 SH   SOLE   44,900 0 18,900
WALGREENS BOOTS ALNC COMMON 931427108 15,824 241,700 SH   SOLE   141,200 0 100,500
WALT DISNEY CO COMMON 254687106 6,097 60,700 SH   SOLE   36,000 0 24,700
WASHINGTON FEDERAL COMMON 938824109 12,089 349,395 SH   SOLE   184,795 0 164,600
WELLS FARGO & CO COMMON 949746101 28,918 551,760 SH   SOLE   347,560 0 204,200
WESTAMERICA BANCORP COMMON 957090103 7,684 132,300 SH   SOLE   86,200 0 46,100
WORLD FUEL SVCS CORP COMMON 981475106 1,247 50,800 SH   SOLE   0 0 50,800